Business, 18.03.2021 01:10, okay1359

On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January: Units
Production 50,000
Sales ($18 per unit) (42,000)
Inventory, January 31 8,000
Manufacturing costs: Variable $575,000
Fixed 80,000
Total $655,000
Selling and administrative expenses:
Variable $35,000
Fixed 10,500
Total $45,500

Required:
a. Prepare an income statement using absorption costing.
b. Prepare an income statement using variable costing.

Answers: 3

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On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% o...